GOODS AND SERVICES PRODUCED IN GEORGIA THROUGHOUT HISTORY

GOODS AND SERVICES PRODUCED IN GEORGIA THROUGHOUT HISTORY Colonial times – Cash crops – rice, wheat and cotton Indigo and wood products were also profitable Late 1800 s – “New South” – Textiles (woven materials) Georgia forests were used for lumber to build new factories, mills and housing Also used for furniture and naval stores (turpentine, rosin, tar, and pitch) used in shipbuilding Mineral resources: kaolin, gold, coal, iron and bauxite led to the growth of the mining industry

GOODS AND SERVICES PRODUCED IN GEORGIA THROUGHOUT HISTORY During World War II – ships were built at Brunswick and Savannah and bombers were built in Marietta Today: Agriculture is still important – peanuts Also foods, beverages, carpet, automobiles and aircraft parts Service industries include medical care, banking, insurance, hair cutting, car repair, and education

TRADE Evidence of bartering among natives in prehistoric times Mercantilism – Colonies exported raw materials to England who manufactured them into finished products New South – Henry Grady brought the International Cotton Exposition to highlight Georgia’s resources and encourage trade Today Georgia trades with countries including Germany, Japan, China, UK, France and Canada

TRANSPORTATION AND WORLD TRADE Georgia’s transportation systems help increase world trade. Hartsfield-Jackson Airport, the deepwater ports at Savannah and Brunswick, railroads, and four major interstates aid in exporting such products as kaolin and forest products and importing such products as sugar, heavy equipment and steel.

PROFIT, RISK, AND ENTREPRENEURS Entrepreneurs are creative, innovative, risk-takers in a market economy who see a need and create goods and services to satisfy the wants of consumers Entrepreneurs take risks by investing in resources to produce these goods and services This is considered taking risks because the future is uncertain and entrepreneurs are not guaranteed a profit Profit is what is left after all production costs have been subtracted Entrepreneurs in Georgia have started such businesses as Coca-Cola and Home Depot

COCA COLA Started by John Pemberton in his backyard as a tonic that contained alcohol Eventually, due to the temperance movement, the alcohol was removed A soda fountain man, Willis Venable, mixed it with soda water and it caught on quickly Pemberton sold Venable a two-thirds share in the product Asa Candler bought all the shares for $2, 300 in 1888 and sold it to Ernest Woodruff for $25 million in 1919.

DELTA AIRLINES Started in 1924 as Huff Daland Dusters – crop dusters who were trying to kill the boll weevil Moved to Monroe, La. in 1928 and renamed Delta Air Service 1929 – first passenger flight 1941 – moved it’s headquarters to Atlanta and changed name to Delta Air Lines Today, Delta flies to 311 destinations in 52 countries

GEORGIA PACIFIC Started in 1927 by Owen Cheatham – called Georgia Hardwood Lumber Co. – a wholesaler of wood products 1956 – changed name to Georgia Pacific Today – one of the leading manufacturers and marketers of tissue, pulp, paper, packaging, building products and related chemicals. Products include – Brawny paper towels, Dixie disposable plates and cups, Quilted Northern toilet paper

HOME DEPOT Started in 1979 by entrepreneurs Bernie Marcus and Arthur Blank Associates are trained to give the best customer service in the industry First store had 25, 000 products Today, each store offers 40, 000 products Arthur Blank now owns the Atlanta Falcons Bernie Marcus donated $200 million to build the Georgia Aquarium